Stuck with dangerous dollar dominance

The world is getting an object lesson on the problems of having one dominant global currency and even the supposed prime beneficiary, the United States, can see the downside. Alarming bouts of volatility in world financial markets over the past 12 months have been rooted in a fear of what happens when a world with its highest-ever peacetime debt pile ... Read More »

Dollar dips from two-week high, stocks in the red

The dollar fell on Wednesday, succumbing to a bout of profit-taking after hitting a two-week high the previous day, while European stocks also put a positive start to the week behind them to trade in the red. Weak corporate earnings weighed on stocks, as Germany’s DAX .GDAXI snapped a four-day winning streak and the broader FTSEuroFirst 300 index of leading ... Read More »

Greece’s latest financial emergency is both tragic and absurd

It’s that time of year again. Greece is running out of money. There are violent protests in Athens. Eurozone finance ministers are gathering in Brussels in an “emergency” conclave to decide what to do next. The International Monetary Fund has already made it clear what it thinks should happen. It says Europe should cut Greece some slack by easing the ... Read More »

L&T Finance Group net up 15% on retail & wholesale advances

Leading non-banking lender L&T Finance Holdings on Monday reported a 15 per cent rise in consolidated net profit at Rs 237 crore for the March quarter, driven by retail and wholesale advances. Income from operations grew 19.77 per cent to Rs 1,957.96 crore in the fourth quarter ended March 31, while total disbursements jumped 20 per cent to Rs 10,688 ... Read More »

Rupee firms up 13 paise against dollar in early trade

Rupee strengthened by 13 paise to 66.31 against the US dollar in early trade at the Interbank Foreign Exchange market on selling of the American currency by exporters amid foreign fund inflows. Weakness in dollar against some other currencies overseas and a higher opening in the domestic equity market supported the rupee, forex traders said. The rupee had lost 11 ... Read More »

Halliburton and Baker Hughes scrap $28 billion merger

Oilfield services provider Halliburton Co (HAL.N) and smaller rival Baker Hughes Inc (BHI.N) announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. The tie-up would have brought together the world’s No. 2 and No. 3 oil services companies, raising concerns it would result in higher prices in the sector. It ... Read More »

IndiGo’s profit zooms 53% in FY16

IndiGo is India’s largest airline (by domestic carriage) with a market share of 38.4% in March, 2016. NEW DELHI: Low-cost carrier IndiGo reported a net profit of Rs 1,990 crore in FY 2015-16, up 53% from previous fiscal’s profit of Rs 1,304 crore. Net profit in the January-March period was at Rs 579 crore, marginally (0.3%) higher than Rs 577 ... Read More »

DA Case: Virbhadra Singh’s son accuses Finance Ministry of misusing ED

Himachal Youth Congress president Vikramaditya Singh, on Friday termed as ‘false’ the allegation of corruption and disproportionate assets against his father and chief minister Virbhadra Singh saying the Finance Ministry is ‘using’ Enforcement Directorate in the matter. The Finance Ministry, headed by Arun Jaitley, is using the ED to institute a false investigation against the Himachal Pradesh Chief Minister, he ... Read More »

If it ain’t broke, don’t Brexit

ON JUNE 23rd Britons will vote on whether their country should stay in the European Union. They face a bewildering range of estimates of the potential economic effects of a Brexit. By 2030 Britain’s GDP could be as little as a fraction of a percentage point below the level it would otherwise reach, or as much as 9.5 percentage points ... Read More »

Former Goldman Sachs president says our economic situation ‘will end in tears’

Taking the long view is one of those easier-said-than-done propositions, right? For instance, while you might think that the economy has pretty much recovered from the Great Recession of 2008, one prominent financier thinks the problems that caused that big meltdown have been papered over and will come back to hurt us again. And then there’s the little issue of ... Read More »